Corona Virus (COVID19) Updates

The House on Thursday voted 388-5 in favor of a $484 billion interim corona virus relief bill that will add another $310 billion for the small business Paycheck Protection Program (PPP), as well as provide billions in aid to hospitals and for testing.

The big picture: Members of Congress returned to Washington for the vote today, which took place in nine different waves to limit the number of people on the floor at one time. The legislation, which was passed Tuesday by the Senate, will now head to the desk of President Trump, who is expected to sign into law immediately.

Details: The vast majority of the funds — $310 billion — is for replenishing the PPP, which dried up last week. Roughly $60 billion of that total will be allocated to small lenders and community banks. The rest includes: read more...

Corona Virus Updates in Illinois: March 18, 2020

Gov. J.B. Pritzker on Tuesday announced the first death in Illinois from the new coronavirus, a woman who family identified as a retired nurse from Chicago, and later activated about 60 service members to assist with the response to COVID-1

On Wednesday, a day after voters went to the polls as 55 new cases of COVID-19 brought the total in the state since the start of the outbreak 160, people were expected to hunker down and settle in for a period of isolation.

On March 17th, Treasury Secretary Steven Mnuchin announced the following as it relates to the 2019 tax filing season:

Individual taxpayers can delay paying their income taxes on as much as $1 million owed for up to 90 days, and all late payment penalties and interest will be waived.

Corporate taxpayers can delay paying their income taxes on as much as $10 million owed for up to 90 days, and all late payment penalties and interest will be waived.

The 90 day postponement applies to Federal tax returns. Illinois, along with most other states, has not yet provided an update on any delays to the April 15th filing or payment deadlines.

Taxpayers are encouraged to file their tax returns by the April 15th filing deadline and also reminded that, if you are unable to, there is the option of filing a six month extension.

It is anticipated that the IRS will provide clarity around this announcement, including the payment of 2020 estimated taxes.

What you need to know about the Carona Virus (COVID-19) in Illinois (This will be updated daily as new information is received)

In a matter of days, life across America and Illinois has been dramatically changed by the outbreak of the coronavirus in the United States. Here is what you need to know about COVID-19 in Illinois, what you can do to stop it from spreading, and what steps state and local governments have or have not taken in response. Read more...

AT&T Joins Coalition

‌AT&T Joins Coalition Waiving Late Payments, Extending Service for Customers Amidst Coronavirus, “Companies such as AT&T have pledged not to terminate the service of any wireless, home phone, or broadband residential or small-business customer who can’t pay their bill as long as that inability is driven by coronavirus-related impacts. The pledge also includes a commitment to waive late fees for businesses and individuals unable to pay bills because of economic circumstances related to the coronavirus pandemic. AT&T will also open its WiFi hotspots to the public.”